State of New Jersey Common Pension Fund D Cuts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

State of New Jersey Common Pension Fund D trimmed its position in Delta Air Lines, Inc. (NYSE:DAL) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,039 shares of the transportation company’s stock after selling 5,435 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Delta Air Lines were worth $2,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DAL. Senator Investment Group LP increased its position in Delta Air Lines by 90.0% during the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after buying an additional 225,000 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Delta Air Lines by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after acquiring an additional 13,802 shares in the last quarter. Olstein Capital Management L.P. raised its position in shares of Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares during the last quarter. River Road Asset Management LLC boosted its stake in Delta Air Lines by 22.8% in the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock worth $6,634,000 after purchasing an additional 24,249 shares in the last quarter. Finally, abrdn plc grew its position in Delta Air Lines by 36.0% during the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock worth $6,859,000 after purchasing an additional 35,792 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Trading Up 0.6 %

Shares of Delta Air Lines stock opened at $64.46 on Thursday. Delta Air Lines, Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $65.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The company has a market cap of $41.59 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. The firm has a 50-day simple moving average of $51.72 and a two-hundred day simple moving average of $48.40.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the sale, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the transaction, the senior vice president now owns 19,756 shares in the company, valued at $1,197,608.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of research analyst reports. TD Cowen raised their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group lifted their target price on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays increased their price target on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $67.73.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.